Category Archives: CNN – Business

Growing trade tensions continue to be bad news for FedEx. The delivery company on Tuesday posted weak results and warned of more trouble ahead. Shares fell 5% in after-hours trading. FedEx reported net income in the most recent quarter of $797 million — more than a 20% drop compared to a year earlier. The company…… MORE

Both the US Securities and Exchange Commission and Tesla CEO Elon Musk are standing their ground in federal court. What happens next will be up to Judge Alison Nathan, who’s tasked with weighing the SEC’s request that Musk be held in contempt for violating the terms of a settlement agreement reached last fall. In the…… MORE

Payless is going out of business and will close all of its 2,100 US stores. DSW had a miserable holiday season, but it has developed a strategy to avoid Payless’ fate. DSW’s strong sales during November, December and January came at the expense of profit, the company reported Tuesday. DSW posted its fifth straight quarter…… MORE

India’s richest man just helped his cash-strapped younger brother avoid months in prison by paying off debts worth tens of millions of dollars. The gesture by Mukesh Ambani to bail out his brother, Anil, is the latest twist in a sibling saga that has gripped India’s telecommunications industry. A price war started by Mukesh in…… MORE

Jamie Dimon is no fan of tariffs. But the CEO of JPMorgan Chase concedes that President Donald Trump’s love of tariffs just may be paying off. “As a negotiating strategy, it might’ve worked,” Dimon told CNN’s Poppy Harlow. It’s a notable admission by Dimon, the fiercely pro-trade face of Corporate America. The comments are in…… MORE

Boeing’s new line of jets had a huge problem: They kept crashing. The press blamed the planes, and many passengers were afraid to fly on them. The jet was supposed to set the company on a path to success, because it was the type of transport that airlines had been demanding. But if panic persisted…… MORE

Coca-Cola wants to capitalize on America’s obsession with flavored sparkling water, so it launched yet another seltzer line, this time from its premium Smartwater brand. The company is releasing three sparkling flavors for its Smartwater brand in North America: Fuji apple pear, strawberry blood orange and raspberry rose. The new flavors will hit shelves later…… MORE

Prada is feeling China’s economic slowdown as it struggles to keep pace with its global rivals in the biggest market for luxury goods. The company’s shares plunged almost 11% in Hong Kong on Monday after it reported disappointing earnings late Friday. Revenue for 2018 was about 1% below analyst forecasts, and operating profit came in…… MORE

GM responded late Sunday to a series of angry tweets from President Donald Trump demanding that the automaker reopen or sell a plant it recently closed because of shifting customer demand. “To be clear, under the terms of the UAW-GM National Agreement, the ultimate future of the unallocated plants will be resolved between GM and…… MORE

New Zealand’s prime minster is upping the pressure on Facebook and other social media platforms after they failed to stop the spread of the Christchurch mosque attack video. Prime Minster Jacinda Ardern said Monday that the tech companies have “a lot of work” to do to curb the proliferation of content that incites hate and…… MORE